Social Studies Worksheets and Study Guides Fifth Grade. Economics

The resources above correspond to the standards listed below:

Kentucky Standards

KY.AE. Academic Expectation
AE.1. Students are able to use basic communication and mathematics skills for purposes and situations they will encounter throughout their lives.
1.2. Students make sense of the variety of materials they read.
KY.CC. Core Content for Assessment v.4.1.
SS-05-2. Cultures and Societies: Culture is the way of life shared by a group of people, including their ideas and traditions. Cultures reflect the values and beliefs of groups in different ways (e.g., art, music, literature, religion); however, there are universals (e.g., food, clothing, shelter, communication) connecting all cultures. Culture influences viewpoints, rules and institutions in a global society. Students should understand that people form cultural groups throughout the United States and the World, and that issues and challenges unite and divide them.
SS-05-2.2. Social Institutions
SS-05-2.2.1. Students will describe social institutions (government, economy, education, religion, family) in the United States and explain their role in the growth and development of the nation.
SS-05-3. Economics: Economics includes the study of production, distribution and consumption of goods and services. Students need to understand how their economic decisions affect them, others, the nation and the world. The purpose of economic education is to enable individuals to function effectively both in their own personal lives and as citizens and participants in an increasingly connected world economy. Students need to understand the benefits and costs of economic interaction and interdependence among people, societies and governments.
SS-05-3.1. Scarcity
SS-05-3.1.1. Students will describe scarcity and explain how scarcity required people in different periods in the U.S. (Colonization, Expansion, Twentieth Century to Present) to make economic choices (e.g., use of productive resources- natural, human, capital) and incur opportunity costs. DOK 2
SS-05-3.2. Economic Systems and Institutions
SS-05-3.2.1. Students will explain how profits motivated individuals/businesses in the U.S. (Expansion, Industrialization) to take risks in producing goods and services.
SS-05-3.3. Markets
SS-05-3.3.1. Students will give examples of markets in different periods of U.S. History (Colonization, Expansion, Industrialization, Twentieth Century to Present) and explain similarities and differences. DOK 2
KY.PS. Program of Studies 2006
SS-5-E. Big Idea: Economics - Economics includes the study of production, distribution, and consumption of goods and services. Students need to understand how their economic decisions affect them, others and the nation as a whole. The purpose of economic education is to enable individuals to function effectively both in their own personal lives and as citizens and participants in an increasingly connected world economy. Students need to understand the benefits and costs of economic interaction and interdependence among people, societies and governments. (Academic Expectations 2.18)
SS-5-E-S-1. Program of Studies: Skills and Concepts - Students will demonstrate an understanding using information from print and non-print sources (e.g., documents, informational passages/texts, interviews, digital and environmental) of the connection between resources, limited productive resources and scarcity:
SS-5-E-S-1.a) Investigate different kinds of resources (e.g., natural, human, capital)
SS-5-E-S-2. Program of Studies: Skills and Concepts - Students will demonstrate an understanding of how people deal with scarcity; explain the roles banks play in helping people deal with scarcity (e.g., loan money, save money, lines of credit, interest-bearing accounts)
SS-5-E-S-3. Program of Studies: Skills and Concepts - Students will demonstrate an understanding of markets:
SS-5-E-S-3.a) Explain how goods and services are/were exchanged
SS-5-E-S-3.b) Investigate and give examples of markets; explain how markets have changed over time during the history of the United States
SS-5-E-U-1. Program of Studies: Understandings - Students will understand that the basic economic problem confronting individuals, groups and businesses in the United States today is scarcity: as a result of scarcity, economic choices and decisions must be made.
SS-5-E-U-2. Program of Studies: Understandings - Students will understand that a variety of fundamental economic concepts (e.g., supply and demand, opportunity cost) impact individuals, groups and businesses in the United States today.
SS-5-E-U-4. Program of Studies: Understandings - Students will understand that markets enable buyers and sellers to exchange goods and services.
SS-5-E-U-6. Program of Studies: Understandings - Students will understand that individuals, groups and businesses in the United States demonstrate interdependence as they make economic decisions about the use of resources (e.g., natural, human, capital) in the production, distribution, and consumption of goods and services.